PTC Therapeutics (NASDAQ:PTCT) Trading 6.8% Higher – Time to Buy?

PTC Therapeutics, Inc. (NASDAQ:PTCT) traded up 6.8% during mid-day trading on Tuesday . The stock traded as high as $48.58 and last traded at $48.15. 437,119 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 816,804 shares. The stock had previously closed at $45.08.

Analyst Ratings Changes

Several research analysts have commented on PTCT shares. Scotiabank started coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective for the company. Citigroup increased their price objective on PTC Therapeutics from $32.00 to $45.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on shares of PTC Therapeutics from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $76.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

PTC Therapeutics Stock Performance

The stock has a market capitalization of $3.69 billion, a P/E ratio of -7.81 and a beta of 0.58. The firm has a fifty day moving average price of $50.27 and a two-hundred day moving average price of $45.94.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Stephanie Okey sold 5,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $54.00, for a total value of $270,000.00. Following the completion of the sale, the director now directly owns 8,867 shares in the company, valued at $478,818. This represents a 36.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Pierre Gravier sold 1,168 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $58,516.80. Following the sale, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at $3,787,710.30. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,501 shares of company stock worth $1,546,088 in the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of PTC Therapeutics by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 613 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 270 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 522 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of PTC Therapeutics by 86.3% in the first quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 441 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of PTC Therapeutics in the fourth quarter worth about $68,000. Finally, GF Fund Management CO. LTD. bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $73,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.